Man sentenced to 74 years in EFCC N360 million fraud case, ordered to restitute victim

• The EFCC has secured justness successful a fraud case, proving that determination are consequences to fiscal crimes successful Nigeria
• A tribunal sitting successful Lagos has pronounced judgement and dense sentences aft convicting a young antheral of fraud
• The judge, however, issued different bid to the convict connected the matter, putting it arsenic a information to see fines successful immoderate of the sentences

Legit.ng writer Ruth Okwumbu-Imafidon has implicit a decennary of acquisition successful concern reporting crossed integer and mainstream media.

Lagos, Nigeria. The Lagos State High Court sitting successful Ajah, Lagos, has sentenced 1 Chukwudi Okonkwo Goodness to 74 years imprisonment.

Justice Josephine Oyefeso, who sat implicit the lawsuit connected Tuesday, June 10, 2025, convicted Chukwudi Okonkwo for stealing and issuing dud cheques.

The Economic and Financial Crimes Commission (EFCC) shared updates connected the lawsuit and last judgement connected its authoritative Facebook handle.

EFCC archetypal arraigned him successful June 2016 for the offence. Photo credit: EFCC
Source: Facebook

Details of the EFCC Fraud case

The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) arraigned Okonkwo connected June 6, 2016, successful a N360 cardinal fraud case.

The 33-count charges bordered connected stealing and issuing dud cheques betwixt the months of June and July 2015 successful Ikeja, Lagos.

The complaint work successful part:

“That you, Chukwudi Okonkwo Goodness, sometime betwixt the months of June and July, 2015 astatine Ikeja, wrong the jurisdiction of the Honorable Court, fraudulently converted and stole the sum of N360,000,000.00 (Three Hundred and Sixty Million Naira), spot of 1 Henry Nnadike and committed an offence of stealing by conversion contrary to Sections 278 and 285 of the Criminal Law of Lagos State, 2011.”

Okonkwo pleaded ‘not guilty’ to the 33-count charges, but implicit the people of the trial, EFCC counsel, T.J. Banjo, presented respective pieces of grounds and drew connected the grounds of 4 witnesses to beryllium the case.

Man sentenced to 74 years imprisonment

The tribunal recovered Chukwudi Okonkwo Goodness blameworthy connected 32 of the 33 counts, and sentenced him to a full of 74 years' imprisonment.

He received a seven-year condemnation connected number 1 for stealing. The tribunal besides sentenced him to different seven-year condemnation connected number 33 without the enactment of a fine.

He besides received 2 years' imprisonment without enactment of good connected each of counts 3 to 32 for issuing dud cheques.

This totals 74 years' imprisonment, and the sentences are to tally concurrently.

On the 2nd number complaint of possession of documents nether mendacious pretenses, helium was discharged and acquitted.

Court orders antheral to restitute victim

In delivering the sentence, Justice Oyefeso besides ordered the accused to restitute N215 cardinal wrong 30 days of the judgment.

Oyefeso held that helium mightiness beryllium considered for a fine, upon the restitution of the amount.

A lawyer, Ms. Goodness Nwankwo, who spoke to Legit.ng explained that issuing a dud cheque oregon bounced cheque is considered a transgression offence, peculiarly erstwhile proven to beryllium done intentionally and with transgression intent.

She stated that successful concurrent sentences, each presumption would tally astatine the aforesaid time, meaning that the convict would service retired the longest sentence.

The tribunal besides ordered him to restitute N215 cardinal wrong 30 days of the judgment. Photo credit: Caspar Benson
Source: Getty Images

Note that the EFCC is besides investigating different fraud cases, including the N1.3 trillion CBEX fraud scam and the N6.9 cardinal fraud lawsuit involving erstwhile Ekiti Governor, Ayodele Fayose.

EFCC updates wanted database successful CBEX fraud

In related news, the EFCC has released the names of 2 much suspects wanted successful transportation with the CBEX concern fraud.

This brings it to eight suspects that the anti-graft bureau has declared wanted successful the people of its investigations.

They see Folashade Odelana, Bamidele Ayodele Abiodun, Adefowora Abiodun Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim.

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Source: Legit.ng